The choice of a bank is crucial when you arrive in a new country as an expatriate, or more simply as a new cross-border worker. Your choice of bank depends on your needs so that you find a financial partner that will help you daily and to realise your projects, including the acquisition of a property for your personal use or in order to rent it.
More and more Luxembourg or international banks in Luxembourg propose today banking packs designed for expat people.
Banks on a daily basis
When opening a bank account in Luxembourg, check with your banking institution in your current country if this one has not a subsidiary in Luxembourg. The link between both establishments can potentially facilitate the financial movements between your country of origin and Luxembourg.
Numerous banks exist on the Grand Duchy financial centre.
The BIL, the BCEE (Bank and Savings Bank of the State) or Spuerkeess, and the Raiffeisen are the most common Luxembourg banks. They propose among others agencies almost everywhere on the Luxembourg territory. Post Luxembourg also proposes banking services.
Other foreign banks as BGL BNP Paribas, ING, BCP Bank, the Chinese banks, are also well implanted in Luxembourg, often through a vast network of agencies. They will propose you daily bank services as well as private asset management.
Private management or private asset management banks
These banks will often offer a property and patrimonial management service, in adequacy with their international presence. You can also find other banking organisations almost exclusively dedicated to private asset or fund management.
How to find your bearings? The best option is to ask your own bank in your current country, to define with them which banking institution in Luxembourg is the most likely to offer you the services meeting your financial needs.